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In this video, Tom Satori discusses the importance of having a contract for graphic designers who are taking on clients. He emphasizes that a contract helps prevent exploitation and outlines the terms of work, including hours and pay, which can also protect against legal issues. As he shares updates to his contract for 2021, he encourages viewers to stay tuned for information on accessing Skillshare Premium, an online learning platform offering thousands of courses in creative fields such as logo design, graphic design, web design, and photography.